SAN JOSE, Calif., May 4, 2017 /PRNewswire/ -- Quantum Corp. (NYSE: QTM) today announced the appointments of Adalio Sanchez and Marc Rothman to Quantum's board of directors. Sanchez is a 35-year information technology industry veteran who spent most of his career at IBM Corp., including 16 years in senior executive and global general management roles. He is currently president of S Group Advisory LLC, a firm providing expertise and management consulting services. Rothman is executive vice president and chief financial officer at VeriFone Inc., responsible for leading the company's finance, information technology, and real estate organizations, and has more than 30 years of global finance and merger and acquisition experience.
"Adalio and Marc bring a broad range of business and technology experience to Quantum's board," said Paul Auvil, Quantum's chairman of the board. "Along with the other directors and Quantum management team, I look forward to drawing on their knowledge and expertise as the company strives to build on its positive market momentum over the past year in scale-out tiered storage and data protection and deliver increased shareholder value."
Prior to assuming his current position at S Group Advisory in 2015, Sanchez served as senior vice president/officer at Lenovo Group Ltd. for a year. In that role, he led Lenovo's $5 billion global division focused on enterprise server/storage, cloud and data center technologies. From 1982 to 2014, Sanchez worked at IBM, rising to become general manager, Modular Systems, where he ran two divisions with total annual revenues of $6 billion. Other leadership positions he held at IBM included vice president of Corporate Strategy and various general manager roles, including general manager of UNIX Systems and chief operating officer of IBM's personal computer (PC) business. Sanchez began his career as an engineer working on IBM's second PC.
Prior to joining VeriFone in 2013, Rothman served as the chief financial officer of Motorola Mobility Inc., where he played a central role in Motorola Mobility's spinoff from its former parent company, Motorola Inc., as well as its sale to Google in 2012. During his 12-year tenure at Motorola, he also served in a number of senior finance leadership positions across the company, including chief financial officer in several of its global business segments (Public Safety, Networks and Enterprise, and Mobile Devices) and senior vice president and corporate controller. He began his career at Deloitte & Touche, Audit Advisory Services.
Sanchez and Rothman were appointed to Quantum's board as part of an agreement the company reached with VIEX Capital Advisors in early March of this year to reconstitute the board with a majority of new, independent directors. They replaced current board members John Mutch and Jon Gacek (Gacek remains president and CEO of Quantum).
"The director search process went well, resulting in a pool of highly qualified and capable candidates," said Eric Singer, founder and managing member of VIEX. "I appreciate this constructive collaboration with Quantum and look forward to identifying a third new board member. We strongly support all members of the reconstituted board as they build on the company's industry leadership and market opportunities to generate significant value for all Quantum shareholders."
Quantum is a leading expert in scale-out tiered storage, archive and data protection, providing solutions for capturing, sharing and preserving digital assets over the entire data lifecycle. From small businesses to major enterprises, more than 100,000 customers have trusted Quantum to address their most demanding data workflow challenges. Quantum's end-to-end, tiered storage foundation enables customers to maximize the value of their data by making it accessible whenever and wherever needed, retaining it indefinitely and reducing total cost and complexity. See how at www.quantum.com/customerstories.
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"Safe Harbor" Statement: This press release contains "forward-looking" statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Quantum advises caution in reliance on forward-looking statements. Forward-looking statements include, without limitation, i) drawing on the knowledge and expertise of Mr. Sanchez and Mr. Rothman as the company strives to build on its positive market momentum and deliver increased stockholder value; and ii) the continued collaboration between VIEX and Quantum in identifying a third new board member and building on the company's industry leadership and market opportunities to generate significant value for all Quantum shareholders. All forward-looking statements are based on information available to Quantum on the date hereof. These statements involve known and unknown risks, uncertainties and other factors that may cause Quantum's actual results to differ materially from those implied by the forward-looking statement. Detailed information about these risk factors is set forth in Quantum's periodic filings with the Securities and Exchange Commission, including, but not limited to, those risks and uncertainties listed in the section entitled "Risk Factors," in Quantum's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on February 2, 2017. Quantum expressly disclaims any obligation to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
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